Analog Devices CEO Jerry Fishman dies

SAN FRANCISCO—Jerry Fishman, longtime CEO of chip vendor Analog Devices Inc. died Thursday (March 28) after an apparent heart attack. He was 67 years old.

Fishman, who became president and chief operating officer of ADI in 1991, had been the longest tenured executive manager of any semiconductor company. He was promoted to CEO in 1996 when Ray Stata, now ADI's chairman, stepped down.

"This is a terrible loss for me personally and for all of us here at ADI," Stata said through a statement. "Jerry dedicated his entire career to building ADI into a great company—one of which we all are enormously proud."

With Fishman at the helm, ADI had a remarkable record of consistent profitability. Walden Rhines, a veteran of the semiconductor industry and longtime CEO of EDA vendor Mentor Graphics Corp., said he couldn't think of a year when ADI lost money. "ADI has one of the longest consistent records of profitability in the semiconductor industry," Rhines said.

Jim Feldhan, president of market research firm Semico Inc., said Fishman was a nose to the grindstone leader who preferred managing ADI to seeking a wider, more flamboyant industry role with speaking engagements and appearances. "Clearly, he did a fabulous job of running ADI," Feldhan said. "He's been there so long you have to attribute that to his direction."

In accordance with the ADI's
bylaws, Vincent Roche, the company's president, was appointed CEO on an
interim basis.

"I think Analog Devices faces a major challenge in filling Jerry's shoes since he had guided the company through a number of changes and shifts in the business, especially DSP and signal processing, as well as linear ICs," said Rob Lineback, a senior research analyst at IC Insights Inc.

Lineback said ADI has most recently been focused on applying more R&D to boost its presence in consumer markets and expand in communication infrastructure, such as wireline solutions for control applications and advanced radio architectures for 4G. The company refocused itself in 2007, selling its handset IC business to Taiwan's Mediatek, Lineback noted. Since then, ADI has targeted embedded designs using analog, mixed-signal, and advanced linear in automotive, communication infrastructure, industrial systems and selective consumer applications, Lineback said. "The problem is that many of Analog Devices' competitors—TI, ST, and others—are doing the same thing today," Lineback said. "With so many irons in the fire, to grow ADI's business in a crowded marketplace, replacing the company's long-time CEO will be a challenge."

Fishman joined ADI in 1971 in product marketing. He rose quickly through the ranks of the company, holding a series of management positions in marketing, operations, and strategic planning. He was named general manager of ADI's semiconductor division in 1979. He became a vice president in 1980 and was named group vice president in 1982 and executive vice president in 1988.

"They say that the best athletes rarely make good coaches, but that was not the case with Jerry Fishman," said Susie Inouye, an analysts with Databeans Inc. "He had a major talent of being able to rally the troops and provide consistency in communications with the employees, which can be difficult especially with much of the staff off site. I think Fishman will leave a legacy of commitment to the business as well as the employees."

While I had limited direct contact with Jerry, as an analyst I did have the opportunity to interact with him. He was a very genuine person, didn't seem so worried about saying the precisely scripted, PC, CYA things. He said it the way he felt about it - refreshing in an executive. Clearly he had his heart in his work and it was clear he knew what he was talking about, and he seemed to enjoy his work. He was a very likable guy. It is sad for us that he has moved on.